Novavax, a global company focused on advancing protein-based vaccines with its Matrix-M adjuvant, has signed a definitive agreement to sell its manufacturing facility in Bohumil, Czech Republic to Novo Nordisk for $200 million. 

The agreement includes a transfer of assets, including a 150,000-square foot recombinant protein manufacturing facility with support buildings, along with the existing workforce and all related and required infrastructure. The agreement provides Novavax with significant, non-dilutive capital, further enabling the company to advance its corporate growth strategy to drive value from its early- and late-stage pipeline using its technology platform, consisting of Matrix-M adjuvant and nanoparticle protein-based technology. In addition to the $190 million cash payment in 2024 and additional $10 million in 2025, Novavax expects the sale of the facility to result in annual operating cost reductions of approximately $80 million.

Following closure of the agreement, expected by December 30, 2024, full responsibility for the manufacturing facility will be transferred to Novo Nordisk.